The Importance of Retirement
Copyright of GK Funds Management (Cayman) Limited
Overview
?
Throughout our working lifetimes, each of us needs to make provision for our financial needs and those of our dependents after we have stopped working. Government pensions often do not adequately meet our requirements as we age. By the time we are nearing retirement age it is usually too late to begin making up for the shortfall. Hence planning for retirement must begin from the very start of our working lives, and must be carried out in an informed and systematic manner
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
?
?
?
Copyright of GK Funds Management (Cayman) Limited
Why is it Important to Start Right Away
? ?
Time is one of the most important advantages of retirement Procrastinating can exact a costly price when it comes to retirement planning. As the saying goes, time is money Within the framework and discipline of retirement plans, you have the potential of realizing significant gains from seemingly minimal contribution
?
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
The power of compounding returns is amazing!!!
Michelle Nest Egg
? ?
Paul Nest Egg
?
Started: Age 18 Invests $100,000 per yr. Over 8yr. Period Then STOPS
Started: Age 26 Invested $100,000 per yr. Over next 40 yrs At 65 yrs old nest egg is worth $ 44,259,250
?
? ?
?
At 65 yrs old nest egg is worth 51,758,00
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Steps to Consider in Retirement Planning
Assessing Your Needs
? The desired end result of every retirement plan is to have a
stream of income that can adequately cover the cost you will incur later in life.
?
Hence you should consider basic living costs, make an allowance for medical care and emergencies, and include the expenses of your dependents. Also for those adventurous golden years you should set aside an appropriate amount for leisure.
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
?
Copyright of GK Funds Management (Cayman) Limited
Steps to Consider in Retirement Planning Con’ td
Understanding Risk
?
Always consider both the amount of risk involved and your comfort level Try to invest in stocks and mutual funds may serve you well or you may want to consider moderate and lower risk level, bonds and money market accounts Whatever financial vehicles you finally decide to put to work, keep in mind that experts generally recommend a balanced and diversified investment portfolio
For more information, please call us toll-free at 1-800- BOND/2663 from anywhere in the Caribbean.
?
?
Copyright of GK Funds Management (Cayman) Limited
Steps to Consider in Retirement Planning Con’ td
Investing
? ?
Always seek expert advise Your investment advisor will assist you in deciding how to allocate your investments among the various asset classes to achieve the highest returns Your advisor will indicate to you what amounts you will need to contribute Always return to your advisor on a regular basis to incorporate in your plan any further information
For more information, please call us toll-free at 1-800-744-BOND (2663)
?
?
from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Steps to Consider in Retirement Planning Con’ td
Employer-related Pension Plans ? Always maximizes all possible use of pension plan offered through your employment
?
In order to encourage the population to plan for retirement most governments allow investments to compound tax free inside properly established retirement plans Because investment to these plans is usually deducted straight from the employee’ pay check, this also represents a manner of s forced saving.
?
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Steps to Consider in Retirement Planning Con’ td
Estate Planning
?
Many people fail to adequately prepare for their dependents in the event of their deaths
?
Ensure that a proper will has been made out with the guidance of a lawyer, that death, estate and other taxes have been minimized with the assistance of a tax expert, and that life insurance coverage is used to provide for whatever expenses, loss of income, and tax or other financial burden that may fall upon the dependents
For more information, please call us toll-free at 1-800-744-BOND (2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Starting Out – Ten Essential Saving Tips
1.
Get in the habit of saving – Always save apart of what you earn Save at work - Enroll in a pension scheme if you are eligible Save automatically Consider setting up automatic deposits to purchase investment Save your raise – Consider directing all or part to your retirement savings
2.
3.
4.
For more information, please call us toll-free at 1-800-744-BOND /(2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Starting Out – Ten Essential Saving Tips Con’ td
5.
Get covered - If you rent or own your own home get the contents in your home insured or the home insured Diversify – Financial advisors agree that combining different asset classes is an excellent strategy for spreading risk Think long term – Consider investment such as stocks and mutual funds are more likely to to out pace the rate of inflation
5.
5.
For more information, please call us toll-free at 1-800-744-BOND /(2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
Starting Out – Ten Essential Saving Tips Con’ td
8.
Plan ahead – Get an idea of what your retirement might cost Stay the course – Make your retirement a priority now !!! Consider the effect of taxes– Look for tax-deferred and taxdeferred and tax-exempt investment opportunities
9.
10.
For more information, please call us toll-free at 1-800-744-BOND /(2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited
An early Retirement checklist
1.
2. 3. 4. 5. 6.
How much time do you have before your retirement, have you made adequate preparation to cover all your expenses for this period of your life. Have you adequately planned for emergencies? Have you considered the possibility that you may require longterm health care? Should you accept an early retirement Package offered by employer? Where do you go to seek advise? Can your source of retirement income support your intended lifestyle and expenses? Have you considered the loss of any benefit package that was a part of your compensation package while working?
For more information, please call us toll-free at 1-800-744-BOND /(2663) from anywhere in the Caribbean.
Copyright of GK Funds Management (Cayman) Limited